Maytas Infra, the listed company promoted by the family of Satyam founder B Ramalinga Raju, is looking to rationalise its employee strength. Consequently, there would be some job cuts and inductions.
To this effect, Maytas board on Thursday reviewed the HR policies of the company to take stock of the situation. “There will be some job cuts and inductions in the company,” a company executive said, but declined to reveal the numbers.
Maytas board, chaired by government-appointed member K Ramalingam, reviewed the key issues of the company in the last two days. Among other things, the company discussed with some of its joint venture partners the infusion of funds and early completion of works.
Maytas Infra has already laid off more than 1000 employees in the month of Jan'09. The removed employees were promised by the HR Head Shrini Vudhumula that the company shall pay two months salary e.i. for Feb and March'09 by 31st of march but has not paid a single penny so far.
Mayats is still paying heavy salaries to the employees which are still with the company. All the present employees have got salary for the months till march'09 . The only sufferer are the laid off employees who have been just ignored by the Maytas board member and the government.
Maytas has even not deposited the PF contribution from Jan'09 onwards, which is a statutory requirement and hence the laid off employee are not able to claim their PF money. Can the editor do something to verify the above facts and help 1000s of people who are just sufferers.
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